Daiichi Life Insurance Co. Ltd. Makes New $892,000 Investment in DexCom, Inc. $DXCM

Daiichi Life Insurance Co. Ltd. purchased a new position in DexCom, Inc. (NASDAQ:DXCM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 13,244 shares of the medical device company’s stock, valued at approximately $892,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Commerce Bank bought a new position in shares of DexCom during the second quarter valued at $1,422,000. Northwestern Mutual Wealth Management Co. bought a new position in DexCom in the 2nd quarter worth about $639,000. Evolve Private Wealth LLC purchased a new stake in DexCom during the 2nd quarter valued at about $202,000. Westpac Banking Corp bought a new position in shares of DexCom in the second quarter worth approximately $267,000. Finally, William Blair Investment Management LLC bought a new position in shares of DexCom in the second quarter worth approximately $11,682,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Stock Down 1.4%

Shares of NASDAQ DXCM opened at $91.06 on Tuesday. The firm’s 50-day moving average price is $77.83 and its 200-day moving average price is $71.07. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $34.36 billion, a price-to-earnings ratio of 35.99, a P/E/G ratio of 1.56 and a beta of 1.41. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $92.59.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 earnings per share. On average, equities research analysts anticipate that DexCom, Inc. will post 2.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the sale, the executive vice president owned 106,353 shares in the company, valued at approximately $8,034,969.15. This represents a 1.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 2,000 shares of DexCom stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $85.32, for a total transaction of $170,640.00. Following the transaction, the director directly owned 48,852 shares of the company’s stock, valued at $4,168,052.64. The trade was a 3.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 73,035 shares of company stock worth $5,446,673. 0.28% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $95.00 target price (up from $88.00) on shares of DexCom in a report on Friday, July 31st. Wall Street Zen downgraded DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. UBS Group set a $96.00 target price on DexCom and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Benchmark raised their price objective on shares of DexCom from $77.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Robert W. Baird set a $105.00 target price on shares of DexCom in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.71.

DexCom Company Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.